FOREIGN DIRECT INVESTMENT ENVIRONMENT IN NIGERIA (A survey of the Mobile Telecommunication Companies) (MANAGEMENT PROJECT TOPICS AND MATERIALS)
ABSTRACT
This Thesis will be highlighting the Investment environment in Nigeria and how the oil industry has dominated FDI inflows to Nigeria since the 1970s and as a result investment in the non-oil sectors has been very low until the past few decades.
The problem statement is that although there have been recent improvements in the political regime and investment policies and reforms; the business environment in Nigeria in the light of foreign investors is still a far cry behind in the improvement of its competitiveness compared to western countries and emerging economies.
The Thesis reveals another lucrative industrial sector in the Nigerian economies which is the Mobile Telecommunications industries having a very high accelerated growth in the region and as well reveals the potential investment opportunities and a way to stimulate and maintain sustainable growth in this sector.
The paper makes some recommendations based on its findings in areas and sectors that needed critical attention especially in implementing reforms that welcomes investors and as well creating enabling environment to enhance optimum use of its natural resources and stimulate the domestic economy besides excessive dependency on oil revenue.
KEYWORDS:Â Foreign Direct Investment; Mobile Telecommunication Companies, Investors, Government; Environment, Natural resources.
1.0 Introduction
The population of Nigeria is estimated to be about 150 million. This implies that it has the potential and a huge opportunity to providing a cheap labor to investors seeking low cost business environment. Moreover, its soil is rich in natural resources like Oil, and rare earth metals to mention a few and a potential market for investors coming to do business in this region.
Although there are substantial evidences to attract foreign investors into the Nigerian economy, there are also counter forces discouraging investors from coming in as well. These counter forces include issues like the poor investment reforms, poor basic and high tech infrastructures, down to corruption and ethnic violence in different regions of the country.
The idea behind this research is to give the readers a clear understanding of the foreign direct investment environment in Nigeria and to examine whether the incentive reforms for investors as well as the productive pools of resources could just be sufficient enough to attract investors into the Nigerian business environment.
The significance of the research is that, it will creates a perspective for readers and investors, looking at the foreign direct investment environment in the Nigerian economy and as well cross examines the findings with existing theories considering some of the key FDI indicators and reforms undertaken to attract investors in the light of modern globalization.
To streamline and narrow down the context of the research; attention will be focused on a selected Mobile Telecommunication Industries currently operating in Nigeria. With this purpose in view, the FDI environment as well as the incentive reforms will be evaluated, interpolated and juxtaposed in line with the online survey to substantiate findings as well as recommendations on what could be done to improve the investment environment.
